Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  PHILIPPINE STOCK EXCHANGE, INC.  >  Manila Electric Company    MER   PHY5764J1483

MANILA ELECTRIC COMPANY

(MER)
  Report  
SummaryNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Manila Electric : Meralco to increase electricity rates by P0.1135 per kWh in November

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/07/2018 | 05:36am EDT

After two consecutive months of reduction, Manila Electric Co. (Meralco) on Wednesday announced it will increase electricity rates by P0.1135 per kilowatt hour (kWh) this November.

In a statement, Meralco said the upward adjustment was mainly due to higher Wholesale Electricity Spot Market (WESM) charges following an uptick in demand and an increase in Malampaya gas prices for the period.

The increase translates to an overall electricity rate of P10.0901 per kWh from October`s P9.9766 per kWh.

This will mean an increase of around P23 in the total bill of a typical household consuming 200kWh, according to Meralco.

"Higher WESM charges bring up the generation charge from P5.1908 per kWh last month, the generation charge for November went up to P5.2725 per kWh, an increase of P0.0817 per kWh," Meralco said.

WESM charges went up due to higher power demand in Luzon resulting from warmer temperature in October, the power distributor said.

The share of WESM purchases to Meralcos total requirement this month was 16.6 percent, it said.

The cost of power from Independent Power Producers (IPPs) and Power Supply Agreements (PSAs) decreased by P0.1450 per kWh and P0.5611 per kWh.

"A stronger peso offset an increase due to higher Malampaya natural gas prices as a result of the quarterly repricing to reflect recent movement of crude oil prices in the world market," Meralco said.

Power plants using Malampaya natural gas are First Gas-Sta. Rita, First Gas-San Lorenzo, First NatGas-San Gabriel, and South Premiere-Ilijan, which provided 61 percent of Meralcos supply needs.

The share of IPP and PSA purchases to Meralcos total requirement this month was 42.6 percent and 40.8 percent.

Transmission charge of residential customers increased by P0.0021 per kWh due to an increase in NGCPs ancillary service charges, according to Meralco.

Taxes and other charges also went up by P0.0297 per kWh this month, it said.

"Meralcos distribution, supply, and metering charges, meanwhile, have remained unchanged for 40 months, after these registered reductions in July 2015."

(c) 2018 All material Times of Swaziland. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MANILA ELECTRIC COMPANY
04/24MANILA ELECTRIC : Metro experiences blackouts anew
AQ
04/24ABOITIZ POWER : Therma Mobile signs PSA with Meralco
AQ
04/14LIST : Scheduled power interruptions in Metro Manila, nearby provinces during Ho..
AQ
04/12MANILA ELECTRIC : Nearly 1.38mn affected by power interruptions
AQ
04/12ABOITIZ POWER : Rotating blackouts hit Metro
AQ
04/08MANILA ELECTRIC : Meralco raises power rates for April
AQ
04/08MANILA ELECTRIC : Meralco generation rates to go up in April
AQ
04/01IN CRISIS MODE : Bracing for the Power Crunch
AQ
03/27MANILA ELECTRIC : Meralco seeks government policy on e-vehicles
AQ
03/21MANILA ELECTRIC : Meralco expects energy sales in January-February to rise 2 per..
AQ
More news
Financials (PHP)
Sales 2019 320 B
EBIT 2019 30 845 M
Net income 2019 21 651 M
Finance 2019 19 515 M
Yield 2019 4,24%
P/E ratio 2019 19,61
P/E ratio 2020 18,62
EV / Sales 2019 1,29x
EV / Sales 2020 1,23x
Capitalization 431 B
Chart MANILA ELECTRIC COMPANY
Duration : Period :
Manila Electric Company Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Average target price 349  PHP
Spread / Average Target -8,7%
EPS Revisions
Managers
NameTitle
Oscar S. Reyes President, CEO & Executive Director
Manuel Velez Pangilinan Chairman
Betty C. Siy-Yap Chief Finance Officer & Senior Vice President
Ray Celis Espinosa Non-Executive Director & Deputy CEO
Manuel M. Lopez Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
MANILA ELECTRIC COMPANY8 259
NEXTERA ENERGY INC9.34%90 889
DUKE ENERGY CORP3.92%64 768
ENEL9.12%62 589
DOMINION ENERGY INC.6.76%60 315
IBERDROLA11.31%57 009